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and consultation, human rights, grievance
mechanisms, social impact assessments,
and revenue sharing. We plan to sponsor
additional workshops in 2014, covering
topics such as managing public expectations and the importance and implications
of the United Nations Guiding Principles on
Business and Human Rights.
Addressing Potential Impacts
Regulations in Morocco require that companies complete an Environmental Impact
Assessment before oil or gas projects can
proceed. In fulfilling this obligation, for the
FA-1 well, we brought together local and
international experts to evaluate the potential environmental impacts of our proposed
drilling program. The result of this process
is an approved management plan that
details Kosmos’ environmental mitigation
methods and reporting criteria. The document exceeds requirements under Moroccan law and sets new standards in Morocco
that align with international best practices.
findings to minimize any identified adverse
impacts of our operations and to maximize the potential benefits we can provide
through the supply chain and our social
investment projects.
Similarly, Kosmos went beyond government requirements in deciding to conduct
a voluntary Social Impact Assessment
(SIA) for the FA-1 well. Designed in 2013,
the assessment will be completed in 2014.
This effort is important because it provides
us with an opportunity to have a two-way
conversation with stakeholders about our
operations and manage expectations related to the industry. We will use the SIA
After the Deepwater Horizon incident in
the Gulf of Mexico in 2010, the oil and gas
industry learned many important lessons
around drilling safety and emergency preparedness. As we begin the first phase of
our drilling program, in Morocco, this has
meant paying close attention to the engineering design of each well, the equipment
to be used, and the training of personnel
who will be involved.
Protecting People and the Environment